13 times bosses mocked new technology and got it wrong

Sometimes the next big thing isn't easy to spot. This is especially true when you have a massive legacy enterprise to protect.

Research firm CB Insights compiled some of the most outrageous times bosses laughed in the face of disruption. We're publishing them here with permission.

Some of the predictions are old enough that they're obviously wrong — people dismissed personal computers and streaming video. And some of those making the predictions ran companies that are now defunct because they missed the boat. With others, the jury is still out as to how off base the dismissal was.

Here are a few of our favorites. You can see the full list of 33 quotes on CB Insights blog:

Steve Ballmer on Google

Cofounder of 20th Century Fox on television

Gustavo Devito/Flickr

"Television won't be able to hold onto any market it captures after the first six months. People will soon get tired of staring at a plywood box every night," said Daryl Zanuck, cofounder of 20th Century Fox.

He was right, kind of. Now we just stare at tiny phone screens all the time.

Western Union president on the telephone

Britannica

"What use could this company make of an electrical toy?" scoffed William Orton, president of Western Union, when his company had the opportunity to buy Alexander Graham Bell's revolutionary invention in 1876.

12/

NBCU president on streaming video

AP Photo/Chris Pizzello

"The notion that [companies like Netflix] are replacing broadcast TV may not be quite accurate," said Alan Wurtzel, NBCU president of research and media development. "I think we need a little bit of perspective when we talk about the impact of Netflix and outlets."

Now, legacy broadcasters like NBC are scrambling to keep up with the likes of Netflix, Hulu and others.

13/

Tim Maurer on robo-advisors

Wealthfront

Wealth-management services require "educated, credentialed, experienced advisors acting as fiduciaries on behalf of clients and actively engaged in a relationship with them," said Tim Maurer, director of personal finance at Buckingham and The BAM Alliance, in an op-ed on CNBC.

"I don't see their services as competing with comprehensive wealth management," he said.

Automated-investing firms, like Betterment and Wealthfront, are hoping to provide the same services, with a much skinnier staff thanks to algorithms and automation.